The Deputy Finance Minister-designate, Thomas Nyarko Ampem, speaking ahead of the budget representation in Parliament by the finance minister, has assured Ghanaians that there will be no introduction of new taxes in the 2025 budget which is set to be presented to Parliament on March 11.
However, the Minority has made claims that new taxes will be imposed seeking to generate a revenue of GHS 200 billion in 2025.
According to Mr. Ampem, the focus of the current government is to enhance compliance to payment of taxes and broadening the tax base, instead of burdening citizens with new taxes.
“The Finance Minister has said this many times – we do not need to introduce new taxes to rake in more revenue. We are going to broaden the tax base. We are actually going to enhance compliance, and you will hear a lot of it in the budget when it is presented, and you will see,” he said.
Continuing his statement, he said, “In fact, he hinted that as a country, we are not taking advantage of the economic rant that we are supposed to generate revenue through the exploiting of the industry. To be honest with you, because we have been denied access to the international bond market, we have to do two things – enhance revenue and also manage expenditure.”
In the meantime, Dr. Cassiel Ato Forson, the Minister of Finance, has highlighted the government’s commitment to addressing economic challenges by adding key recommendations from the National Economic Dialogue to the yet-to-be-presented 2025 budget.
“Most of the presentations actually feed into the first presentation I made. It clearly shows the connection and understanding that together, we understand the situation and the problems of this country. What is left is the resolve to come together to fix it.”
He also acknowledged that the implementation of the recommendations is a difficult task, which requires public support for governmental policies to be successful.
Assuring that the budget will take into consideration the concerns of citizens and seeking the support of the general public, he said, “Implementation is the only challenge. We can only implement if we get the buy-in of the citizens. Most of your concerns you have raised, you wil see them in the budget.”
The Finance Minister has also emphasized that he’ll treat recommendations from the National Economic Dialogue as his “Bible,” suggesting it would be his constant point of reference.
The 2025 Budget Statement and Economic Policy is set to be presented on March 11, 2025, at Parliament, by the Minister of Finance, Dr. Cassiel Ato Forson. It will outline the key revenue-enhancing measures of the current government and its expenditure.
Source: Dehotpress
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